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Mar 19, 2013
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, given our lack of frugality and washington's inability to do anything intelligent with our budget deficit. so the logical default currency is gold. we had a lull in european problems, but thanks to a lack of regulation -- how else did cyprus get out of hand, especially if the same thing happened in iceland, the lull is over. i think this is one more reminder rich europeans will switch from keeping europe owes in banks to keeping gold in deposit boxes. if you have no exposure to gold, buy some now. sure, most europeans may keep their money in the bank. they live there, that's their life. but the wealthy are looking to pull out money over time and the big beneficiary will be gold. amazingly, the european regulators can't help themselves. their incredible incompetencies makes buying gold the easiest decision in the world. these idiots are the gift that climpgs the gold buy every time they take action and this latest action may be the best when it comes to pushing gold higher than maybe since the reign of the former european central banker chief jean, "the fraud" trichet. carfirmation. only h
, given our lack of frugality and washington's inability to do anything intelligent with our budget deficit. so the logical default currency is gold. we had a lull in european problems, but thanks to a lack of regulation -- how else did cyprus get out of hand, especially if the same thing happened in iceland, the lull is over. i think this is one more reminder rich europeans will switch from keeping europe owes in banks to keeping gold in deposit boxes. if you have no exposure to gold, buy some...
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Mar 21, 2013
03/13
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the boon right now, at a 56 basis point deficit to the treasuries. that's a wide spread. and the last two-day chart of the euro versus the dollar. should it break through 1.28.80, it could challenge the current four-month lows versus the greenback. sue, back to you. >> rick, thank you very much. >>> some new clues about the state of the job market today. the number of americans filing unemployment benefits rising slightly last week to 336,000. a tad below estimates. we've seen a number of job cuts announced recently. so is the labor market running out of steam? listen to what "mad money's" jim cramer said earlier today. >> tens of thousands of people are going to be laid off within the next month. >> whatever little. >> and that's going to show up in the numbers, in that 330,000 employment, that may be the last good one. bernanke is not smoking dope, pot, whatever they call it now. >> well, is he right? joining us now is "the wall street journal's" chief economics correspondent john hillsenrath. good to see you. >> good to be here. i agree with one thing that jim said ear
the boon right now, at a 56 basis point deficit to the treasuries. that's a wide spread. and the last two-day chart of the euro versus the dollar. should it break through 1.28.80, it could challenge the current four-month lows versus the greenback. sue, back to you. >> rick, thank you very much. >>> some new clues about the state of the job market today. the number of americans filing unemployment benefits rising slightly last week to 336,000. a tad below estimates. we've seen a...
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Mar 25, 2013
03/13
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they had the time because rates were so much lower and deficit was going up slower. in a real sense the fed buying the treasuries has made it less painful for the government. >> i'm not sure if the population that chairs the euro or those that chair somewhat with central planning with regard to the 27 countries, but my question to you is i'm not sure we're going to lose any of these countries, but on the other hand, keeping their funding and the central bankers and the banks and insolvency all in line is a full -time job. is anybody worried about how we're growing these economies? is that the rally big elephant in the room? >> the growth hasn't phone zone up. we talked about it many times. what is the eventual exit strategy? our fed can't decide when to stop buying treasuries much less strengthen the balance sheet. >> i talked to jim bianco about the taper. this is another arena where the fed is going to paint themselves into a corner, they're going to move them up and down with every data point? in the end, they just have to say enough is enough, don't they? >> goin
they had the time because rates were so much lower and deficit was going up slower. in a real sense the fed buying the treasuries has made it less painful for the government. >> i'm not sure if the population that chairs the euro or those that chair somewhat with central planning with regard to the 27 countries, but my question to you is i'm not sure we're going to lose any of these countries, but on the other hand, keeping their funding and the central bankers and the banks and...
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Mar 18, 2013
03/13
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cyprus needed a total bail out of 17 billion euros and they needed to to fund their banks and deficit. they said we will only give you ten and you have to come up with the other seven. it led to runs on atms in cyprus and protests as the president arrived at parliament. here's what they decided to do. they're going to tax bank depos sxits the ox original plan on saturday, 10% if you have an account larger than 100,000 euros and here's what led to the protests, 6.75% if you're under 100,000 euros and that's fdic deposit insurance. market watchers were aghast that insured depositors would be hit, but the insurance was essentially a falsehood. what if citizens in italy or spain begin to think that they being lose their money even if it is supposedly insured? could that lead to bank runs? it is so controversial the cyprus parliament couldn't get it passed yesterday. they say they would do it today. it didn't happen and now they're trying for tomorrow. they are re-working the plan so the smaller guy is not hit so hard, but still, it appears they're going after insured deposits. why did the
cyprus needed a total bail out of 17 billion euros and they needed to to fund their banks and deficit. they said we will only give you ten and you have to come up with the other seven. it led to runs on atms in cyprus and protests as the president arrived at parliament. here's what they decided to do. they're going to tax bank depos sxits the ox original plan on saturday, 10% if you have an account larger than 100,000 euros and here's what led to the protests, 6.75% if you're under 100,000...
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Mar 24, 2013
03/13
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and what happens to the deficit and to paul krugman's theories then? i'll ask him. ♪ ♪ the new blackberry z10 with blackberry hub and flick typing. built to keep you moving. see it in action at blackberry.com/z10 today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. ♪ if loving you is wrong ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [
and what happens to the deficit and to paul krugman's theories then? i'll ask him. ♪ ♪ the new blackberry z10 with blackberry hub and flick typing. built to keep you moving. see it in action at blackberry.com/z10 today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the...
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Mar 24, 2013
03/13
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paul krugman has the idea that deficits don't matter, not now. we spent some time understanding the thinking behind the theory. krugman is of course the nobel prize winning op-ed columnist for the "new york times." he is also princeton professor. thank you for doing this. so explain, first, specifically why you feel that right now really there is, as far as i can tell, almost no limit to what you would be willing to do in terms of stimulating the economy. >> right now is a time when not spending is extremely disruptive. if the government pulls back, it's destroying jobs and there's no way to offset that. ordinarily if a government spends less the federal reserve can cut interest rates, like we did at the end of the cold war, but we can't do that now because the interest rate fed controls are at zero. so we have no offset and conversely up to, if we increase spending right now it will create jobs and expand the economy. this is a really good time to be spending. won't always be like this. this is not the normal situation. normally we have an econo
paul krugman has the idea that deficits don't matter, not now. we spent some time understanding the thinking behind the theory. krugman is of course the nobel prize winning op-ed columnist for the "new york times." he is also princeton professor. thank you for doing this. so explain, first, specifically why you feel that right now really there is, as far as i can tell, almost no limit to what you would be willing to do in terms of stimulating the economy. >> right now is a time...
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Mar 23, 2013
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but i have to tell you, wolf, we can't keep running up deficits like this. it will damage the economy deeply. people say we don't have a crisis on the horizon, of course we do. we have a debt on a tear. if the debt takes off like it is projected to do so, it is not only hurting our economy today, it is destroying it for the next generation. we can't sit around and be complicit with that. the problem is we have to do something about that. >> one final question. senator rand paul was here yesterday in "the situation room," 24 hours ago. he said flatly he is going to iowa the next few weeks, seriously thinking of running for the republican presidential nomination in 2016. thinks it is a good idea for him. what about you? >> i am going to make my mind up later. the reason i need to do this job, i am chairman of the budget committee, we have a crisis on the horizon, we need agreements done, i don't think it is good for me or wisconsin district or my colleagues to cloud my judgment at this time with other things. i need to do what i think is right in this moment,
but i have to tell you, wolf, we can't keep running up deficits like this. it will damage the economy deeply. people say we don't have a crisis on the horizon, of course we do. we have a debt on a tear. if the debt takes off like it is projected to do so, it is not only hurting our economy today, it is destroying it for the next generation. we can't sit around and be complicit with that. the problem is we have to do something about that. >> one final question. senator rand paul was here...
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Mar 21, 2013
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it will bring more revenue in than any year in the history and we'll have a trillion dollar deficit. spending is a problem. >> the senate passed a six-month budget measure yesterday that keeps most cuts in place. congress is now involved in the controversy over the washington redskins team name. a bipartisan bill which is introduced yesterday by ten lawmakers boo cancel the nfl team's trademark of the name redskins. this at the same time the federal court considers a petition by a group of knave americans to cancel the trademark. the redskins brand is not meant to offend, but apparently it does. >> i can't remember a time in my life where people haven't been discussing and debating team names like the redskins. but this is the first time i recall someone taking a business angle, talking about the trademark issue. >> it's offensive to a lot of people. think at some point they will have to change it. >> it's different than the fighting illini. this was a derogatory word in certain point in american history. it's a little bit different than -- iowa, illinois, states named after indian t
it will bring more revenue in than any year in the history and we'll have a trillion dollar deficit. spending is a problem. >> the senate passed a six-month budget measure yesterday that keeps most cuts in place. congress is now involved in the controversy over the washington redskins team name. a bipartisan bill which is introduced yesterday by ten lawmakers boo cancel the nfl team's trademark of the name redskins. this at the same time the federal court considers a petition by a group...
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Mar 23, 2013
03/13
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buildings including 53 schools targeted foreclosu clos designed to cut costs as they face a billion dollar deficit. in alderman willy cochran's word constituents have been calling all day. >> some cases we're happy. some cases we're not so happy. >> on the plus side the district says the savings will allow major investments in surviving schools including adding 70 libraries, science labs, even air conditioning, but for many it is not what's gained but what's lost and where. neighborhood schools in some of chicago's poorest communities. school officials say the decisions were based on low enrollments and others say race played a role and outraged kerry austin, an alderman from the far south side told the chicago tribune, quote, every time they scream and holler they back off and steam roll over black and brown folks, not this time. she is not the only one who believes that. >> you think it is the black communities that often are asked to sacrifice first? >> in this case, yes, i do. yes, i do. >> this is 70th street in the heart of the city's south side and this is the logical elementary school. par
buildings including 53 schools targeted foreclosu clos designed to cut costs as they face a billion dollar deficit. in alderman willy cochran's word constituents have been calling all day. >> some cases we're happy. some cases we're not so happy. >> on the plus side the district says the savings will allow major investments in surviving schools including adding 70 libraries, science labs, even air conditioning, but for many it is not what's gained but what's lost and where....
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Mar 25, 2013
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you think about the deficit, the government doesn't have this kind of cash and people are concerned this isn't necessarily the best use of taxpayer money. in the video, you saw a second ago, people are dressed up as crew members on a starship enterprise, and the government employee version of characters claiming they will boldly go where no government employees have ever gone before. it is funny. but i watched the videos with my producer and we were trying to to figure out the training value and people have similar questions. >> i have been since corrected and am about to burst into a fit of giggles and i inappropriately said it is "gilligan's island," not whatever i said. what is the irs saying about this in. >> they came up with this statement saying it is -- i'm quoting now, no mistaking this video does not reflect the best stewardship of resources, and that video of this type will not be made today. so the irs does say training gener videos in general are cheaper. that would involve some travel. >> okay. zain asher, thank you. >>> honeymoons, they are the icing on the cake after a we
you think about the deficit, the government doesn't have this kind of cash and people are concerned this isn't necessarily the best use of taxpayer money. in the video, you saw a second ago, people are dressed up as crew members on a starship enterprise, and the government employee version of characters claiming they will boldly go where no government employees have ever gone before. it is funny. but i watched the videos with my producer and we were trying to to figure out the training value...
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Mar 23, 2013
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guest: republicans were hitting deficit spending that the budget that the cr isn't addressing the deficit problem. you put two words on a credit card and didn't pay for them and that's why we have deficit. the war funding is an interesting element. it was a fight between democrats and republicans. democrats cut spending. how they arrived at savings in their bument and republicans said those numbers aren't realistic. host: trnt republicans say thrg have been increases in spending by the obama administration at pushed the debt from five or six years ago guest: how much debt there was when president obama came to office and how much debt there is now. that is the consistent argument it's getting worse. when you compare the ryan budget to the senate democrats budget there is a different pace of spending, both of them increase spending over time but the democrats by a lot more. host: go ahead bob. caller: we won't really know what's in this thing until the cover is pulled off. we can't trust the media to tell us the truth. and you should really when you have politico on, you should mention if
guest: republicans were hitting deficit spending that the budget that the cr isn't addressing the deficit problem. you put two words on a credit card and didn't pay for them and that's why we have deficit. the war funding is an interesting element. it was a fight between democrats and republicans. democrats cut spending. how they arrived at savings in their bument and republicans said those numbers aren't realistic. host: trnt republicans say thrg have been increases in spending by the obama...
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Mar 21, 2013
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we have a jobs deficit. we have a budget deficit. and these are the byproducts of a leadership deficit. we still have no budget from the president, in violation of the law. he gets his ncaa bracket in on time but still no budget. this is the fourth time in five years. he set a new record this year, two months with no plan, while we had trillion-dollar deficits and a debt crisis on the horizon. his party leaders, unfortunately, failing offering a serious account of our challenge. no serious plan to grow our economy or create jobs. no plan to ever balance the budget. take more. trillions of dollars more to spend more in washington. that's what got us in this mess in the first place. so what can be done? the good news is that we now have a vehicle for regular order. the democrats derailed the budget process each of the last few years and stopped governing when they stopped budgeting. at least we now have a budget process that's moving. we brought them back in the game this spring. that's a good thing. so what's going to happen in the we
we have a jobs deficit. we have a budget deficit. and these are the byproducts of a leadership deficit. we still have no budget from the president, in violation of the law. he gets his ncaa bracket in on time but still no budget. this is the fourth time in five years. he set a new record this year, two months with no plan, while we had trillion-dollar deficits and a debt crisis on the horizon. his party leaders, unfortunately, failing offering a serious account of our challenge. no serious plan...
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Mar 20, 2013
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on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very wealthy people. so the republican plan, they said we'll get rid of your tax expenditures for high-income people, but we'll bring down your top rate. so in the end the folks at the top get a very big windfall. we say let's eliminate some of those tax breaks for very wealthy people in order to help reduce our deficit, so when you combine that savings with targeted cuts, you can reduce it in a balanced way rather than increasing the tax burden on the middle class which is what their budget will do. we also want to make sure we keep our commitments to our s
on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very...
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Mar 20, 2013
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our focus is on jobs and the jobs deficit as a way to tackle the budget deficit. with that, i'm pleased to yield three minutes to my colleague and friend from maryland, the distinguished whip, mr. hoyer. the chair: the gentleman is recognized for three minutes. without objection, so ordered. mr. hoyer: i first want to thank the ranking member for the work that he's done on this budget. that he offers us an alternative. it is a reasonable alternative that can be implemented. to that extent it's a stark difference to the majority's proposal which will not be implemented and they know it. let me start with an observation. headline blunt report says g.o.p. needs to regroup for 2016. in that there is this sentence from the report, not from a democrat, not from the newspaper, not from an editorial writer, quote, we have become expert, we being the republican party report, we have become expert in how to provide ideological reinforcement to like-minded people. with all due respect to my friend, mr. ryan, that's what his budget is. it is a vision. it is a vision that will
our focus is on jobs and the jobs deficit as a way to tackle the budget deficit. with that, i'm pleased to yield three minutes to my colleague and friend from maryland, the distinguished whip, mr. hoyer. the chair: the gentleman is recognized for three minutes. without objection, so ordered. mr. hoyer: i first want to thank the ranking member for the work that he's done on this budget. that he offers us an alternative. it is a reasonable alternative that can be implemented. to that extent it's...
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Mar 19, 2013
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the immoral idea that we are going to put more on our plate now, add up deficit after deficit and create a bigger and bigger debt and then make people who don't even exist yet pay for it. why is that political? because, you know what, mr. chair? the people in the here and now can vote. generations in the future, our grandkids who don't exist can't vote. and that's what makes the other approaches we have heard about immoral, wrong political. we balance. we balance within 10 years. let's contrast that a bit. our responsible approach to what the senate democrats have done, for example. next year alone the senate democrat budget increases spending by $162 billion above what we are spending today. over 10 years, increases the delebt by $7.3 trillion from today's levels despite a massive tax hike that they have. and it adds $1.5 trillion in new taxes. even after that, they still add to the debt, our kids' debt by $7.3 trillion. and again, mr. chair, it never balances. after four years and $6 trillion in debt since a budget was last even passed, the senate democrats' proposal leaves more debt a
the immoral idea that we are going to put more on our plate now, add up deficit after deficit and create a bigger and bigger debt and then make people who don't even exist yet pay for it. why is that political? because, you know what, mr. chair? the people in the here and now can vote. generations in the future, our grandkids who don't exist can't vote. and that's what makes the other approaches we have heard about immoral, wrong political. we balance. we balance within 10 years. let's contrast...
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Mar 19, 2013
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on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very wealthy people. so the republican plan, they said we'll get rid of your tax expenditures for high-income people, but we'll bring down your top rate. so in the end the folks at the top get a very big windfall. we say let's eliminate some of those tax breaks for very wealthy people in order to help reduce our deficit, so when you combine that savings with targeted cuts, you can reduce it in a balanced way rather than increasing the tax burden on the middle class which is what their budget will do. we also want to make sure we keep our commitments to our s
on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very...
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Mar 18, 2013
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they're not talking to me about the deficit. they want to know what we're doing as far as putting the american people to work. can you expound upon that for me please? ms. fudge: absolutely. i thank the gentlelady. what we have done in this budget, not only did we put in $13 billion for work force training, for job corps, for dislocated workers, retraining, segment training but in total we have almost $500 billion worth of job creation built into our budget. more than any budget, more than any budget, whether it be the democratic caucus, the white house budget or the republican budget. we have doubled down on jobs in the c.b.c. budget. ms. brown: thank you, madam chair. mr. horsford: continuing on, as the chairwoman of the c.b.c. just talked about, the congressional black caucus budget is an alternative budget for the fiscal year 2014. it puts forth a plan that reduces the deficit by $2.8 trillion over the next decade and creates millions of jobs through significant investments toward job creation that will accelerate our econom
they're not talking to me about the deficit. they want to know what we're doing as far as putting the american people to work. can you expound upon that for me please? ms. fudge: absolutely. i thank the gentlelady. what we have done in this budget, not only did we put in $13 billion for work force training, for job corps, for dislocated workers, retraining, segment training but in total we have almost $500 billion worth of job creation built into our budget. more than any budget, more than any...
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Mar 19, 2013
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speaker, our real deficit is unemployment. let's eliminate this true deficit by bringing the president's american jobs act to the floor for a vote. it deserves a vote. mr. speaker, our mantra should be jobs, jobs, jobs. the speaker pro tempore: for what purpose does the gentleman from indiana seek recognition? >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, the gentleman from indiana is recognized for one minute. >> mr. speaker, i rise today to honor an exceptional hoosier, dedicated public servant and a good friend of mine, martin. a man with a strong desire to help others and a man who has been a tremendous asset to the eighth district of indiana. martin has dedicated over 40 years of service to indiana, the eighth district, and to the republican party. he's currently serving his fourth term in elected office as county treasurer. he worked with many civic organizations and within the republican party, committee chairman and member of the eighth district central comm
speaker, our real deficit is unemployment. let's eliminate this true deficit by bringing the president's american jobs act to the floor for a vote. it deserves a vote. mr. speaker, our mantra should be jobs, jobs, jobs. the speaker pro tempore: for what purpose does the gentleman from indiana seek recognition? >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, the gentleman from indiana is recognized for one minute. >> mr....
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Mar 21, 2013
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we have reduced the deficit. the only intelligent way to measure deficit is as a percent of the economy. . percent of gdp that is for a simple reason. if you owe $10,000 on your credit card, is that urban some or not? it depends. if your salary is $30,000, 10 thousand dollars is a lot of money. if you are $3 million a year, $10,000 is not a lot of money. we have reduced the debt as a from 10.1%.f gdp it was 10% in 2009. it is now 5.3%. we have cut it in half. the fastest reduction in the deficit since the immobilization after world war ii, it is an inhibiting growth and the economy. i will vote against the sequester. i think we have done what we need to do with debt. we have the deficit down to a managing level. it will continue to come down. the caucus budget will bring it down further. right now, our crisis is jobs. we still have an eight -- we still have a 8% unemployment rate. if we got the people back to work, and our budget will create amillion jobs, if you have five percent unemployment rate by doing nothi
we have reduced the deficit. the only intelligent way to measure deficit is as a percent of the economy. . percent of gdp that is for a simple reason. if you owe $10,000 on your credit card, is that urban some or not? it depends. if your salary is $30,000, 10 thousand dollars is a lot of money. if you are $3 million a year, $10,000 is not a lot of money. we have reduced the debt as a from 10.1%.f gdp it was 10% in 2009. it is now 5.3%. we have cut it in half. the fastest reduction in the...
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Mar 23, 2013
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just calling about the obamacare and also about the deficit in the united states. my feeling is, many workers across america have lost their insurance and have lower wages because of company downsizing and lower profits. we still pay government workers high wages and give them excellent paid insurance. maybe it is time to decrease their wages and to make their -- make them have a payment they have to pay for their insurance -- [indiscernible] guest: interesting point you bring up about people losing their health insurance. in a bipartisan move in this budget, there is a directive to couch the effect of the number of people losing their health insurance because of obamacare. it was a republican sponsored saying -- thing. they will try to see how much it is occurring. host: the house approved the continuing resolution by 310- 109. 27 republicans and 82 republicans voted no. theye senate version, passed -- 20 republicans voted yes. the democrat of montana voted no. now that these two measures have been passed by the separate chambers, what happens next? guest: the cr
just calling about the obamacare and also about the deficit in the united states. my feeling is, many workers across america have lost their insurance and have lower wages because of company downsizing and lower profits. we still pay government workers high wages and give them excellent paid insurance. maybe it is time to decrease their wages and to make their -- make them have a payment they have to pay for their insurance -- [indiscernible] guest: interesting point you bring up about people...
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Mar 18, 2013
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obama is out there saying i'm cutting the deficit. we need to get angry because the american people are angry and obama is lying to you. we need to make that very, very clear. that's right! \[applause] >> the white house belongs to the conservative and anger is not what it takes. it takes an understanding of who obama is and what he is up to. what he is up to he does very well. hen wants to take this -- he wants to take this country to a state of socialism, which has not been achieved but it came close during the nixon administration. obama is doing what he thinks is good for america. all of us know that every time that has been tried the opposite has happened. people become poorer. except for the few elite at the top who run the political system. obama is doing a good job of trying to achieve socialism in america. the task of conservatives is to do a better job of explaining why socialism doesn't work and why free markets do work. without using the cord compassion but explaining why compassion is capitalism. >> it has to be done on a
obama is out there saying i'm cutting the deficit. we need to get angry because the american people are angry and obama is lying to you. we need to make that very, very clear. that's right! \[applause] >> the white house belongs to the conservative and anger is not what it takes. it takes an understanding of who obama is and what he is up to. what he is up to he does very well. hen wants to take this -- he wants to take this country to a state of socialism, which has not been achieved but...
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Mar 20, 2013
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it kills jobs, stifles growth and adds to the deficit. all while making life harder for seniors, women, children and the most vulnerable in our society. the math of the budget just does not add up. simple arithmetic tells you that the only way to pay for mr. ryan's proposed tax cuts for the fortunate few is to eliminate many of the deductions that middle class families count on to pay for housing and health care and to save for their retirement. the ryan tax plan would further burden those who are struggling by substantially lowering taxes for the most fortunate and that's not spend, that's just plain math -- spin, that's just plain math. the vision this budget offers of america is tuth totally at odds -- is totally at odds with who we claim to be. it's a vision of the country where the government is indifferent to the suffering of many while only paying attention to the demands of a few. then there is the other plan that is before us, the democratic plan. with a balanced set of priorities, a better vision for the future, found in the bud
it kills jobs, stifles growth and adds to the deficit. all while making life harder for seniors, women, children and the most vulnerable in our society. the math of the budget just does not add up. simple arithmetic tells you that the only way to pay for mr. ryan's proposed tax cuts for the fortunate few is to eliminate many of the deductions that middle class families count on to pay for housing and health care and to save for their retirement. the ryan tax plan would further burden those who...
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Mar 19, 2013
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guest: debt and deficit. i voted against the solution for the fiscal cliff because the headlines would say the fiscal cliff is avoided, and there were three elements. we did not avoid any of them. we raise taxes on every american. we put sequestration down the road and we did zero on deficit problems. we are facing total economic chaos if we are not careful. host: republican caller. pennsylvania. caller: in response to the fiscal cliff, i find him very -- i do not know, i do not believe what he is saying. he is talking about a fiscal cliff, but you want us to accept the people here illegally and give them something they have not earned. i do not understand what republicans are doing. i am a conservative. i do not want amnesty. i do not want them here. host: you might have missed what the congressman said earlier. i will let him respond. guest: what she is saying is she does not want amnesty, and under president bush he had a strong amnesty plan and i said i would not back it. total amnesty like the one presid
guest: debt and deficit. i voted against the solution for the fiscal cliff because the headlines would say the fiscal cliff is avoided, and there were three elements. we did not avoid any of them. we raise taxes on every american. we put sequestration down the road and we did zero on deficit problems. we are facing total economic chaos if we are not careful. host: republican caller. pennsylvania. caller: in response to the fiscal cliff, i find him very -- i do not know, i do not believe what he...
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Mar 20, 2013
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the deficit according to their budget in the year 2023, will be $5 6 billion. in contrast the budget that we will be offering will be surplus, surplus in 2023. will finally allow us to start paying down the debt. there are no reforms. no significant reforms at all. in medicare, medicaid, social security. how you can have a vision for this country going forward and not at least discuss possible, reasonable reforms to those programs is beyond even somehow it passed out of the senate committee. defense is cut by an additional quarter of a trillion dollars. a cut by an additional quarter of a trillion dollars over the sequester cuts we already had and over the reductions the defense department voluntarily took upon itself during the last budget process. i come before this body before, mr. chairman, and encouraged this body in a bipartisan fashion to look to the defense department as possible ways to save money. under the belief there must be some money in the defense department that can be saved in a responsible fashion. what the senate has done goes so far beyond
the deficit according to their budget in the year 2023, will be $5 6 billion. in contrast the budget that we will be offering will be surplus, surplus in 2023. will finally allow us to start paying down the debt. there are no reforms. no significant reforms at all. in medicare, medicaid, social security. how you can have a vision for this country going forward and not at least discuss possible, reasonable reforms to those programs is beyond even somehow it passed out of the senate committee....
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Mar 20, 2013
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yes, we have to address our debt and deficit. and we have to build for the future so that our children grow up in the same vibrant leading world that we grew up in, with a country that's leading the way. but we can't do that by breaking a promise that we made to our parents and grandparents. we can't do that on the backs of seniors taking care away from them when they need it the most. this has to be bipartisan, because how we treat our elders, how we treat our parents and grandparents is a direct reflection of who we are as americans. we need to start talking about his in a bipartisan way. need to shelf the idea of dismantling medicare and strengthening medicare, making it more secure so it is there not only for today's seniors, but it is there for the generation. that it is there for our children and grandchildren. it is a system that works extremely well. yes, we have to talk about the costs of health care. we have to address the costs of health care. but medicare isn't the problem. medicare works extremely well. ask any senio
yes, we have to address our debt and deficit. and we have to build for the future so that our children grow up in the same vibrant leading world that we grew up in, with a country that's leading the way. but we can't do that by breaking a promise that we made to our parents and grandparents. we can't do that on the backs of seniors taking care away from them when they need it the most. this has to be bipartisan, because how we treat our elders, how we treat our parents and grandparents is a...
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Mar 18, 2013
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democrats were in control had gone through a state where wisconsin had faced a multibillion $budget deficit. we saw some of the record jobs will we've seen in the past. what did we do? we took that $3.6 billion and -- half a billion surplus. we lowered the overall taxes for the first time in years. taxes on homes have gone down in each of the last two years. [applause] but when it comes to jobs under my predecessors terms wisconsin lost 300,000 jobs and just 10% of our employers were headed in the right direction. today we're gaining jobs and 93% of the employers says that wisconsin is heading in the right direction. we can leave with an optimistic message. simply put in we showed in our election who do you want in charge, the big government or do you want the hard working taxpayers, the hard working taxpayers win out and they will win out over and over again. in america, we need to show an optimistic message that we're not standing with the big businesses of america, we're standing with the hard-working taxpayers and this is the message that can resonate throughout this country. [applause]
democrats were in control had gone through a state where wisconsin had faced a multibillion $budget deficit. we saw some of the record jobs will we've seen in the past. what did we do? we took that $3.6 billion and -- half a billion surplus. we lowered the overall taxes for the first time in years. taxes on homes have gone down in each of the last two years. [applause] but when it comes to jobs under my predecessors terms wisconsin lost 300,000 jobs and just 10% of our employers were headed in...
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Mar 21, 2013
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more revenue in than any year in our history, and yet we will still have a trillion- dollar budget deficit. does not anybody realize there is a problem here? >> i understand you met with some of your senators and members on the issue of benghazi. [indiscernible] republicans planning further review? are you planning more subpoenas? >> there are members who wanted to compare notes on what we know and what we do not know. frankly there is a lot we still do not know. it was a friendly exchange of information, and some decisions about a way forward. [indiscernible] on what happened prior to september 11, what actually happened on september 11, and then why it was described for weeks as some think it was not, when the people who were watching this knew it was a terrorist attack. . included cushions for programs like border control to help them get by this question, but it does not do anything to prevent layoffs for traffic controllers per couldn't congress have done more for leaving -- before leaving on its recap -- on its recess the prevent these layoffs? but listen, under this bill, some agenc
more revenue in than any year in our history, and yet we will still have a trillion- dollar budget deficit. does not anybody realize there is a problem here? >> i understand you met with some of your senators and members on the issue of benghazi. [indiscernible] republicans planning further review? are you planning more subpoenas? >> there are members who wanted to compare notes on what we know and what we do not know. frankly there is a lot we still do not know. it was a friendly...
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Mar 21, 2013
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>> they want to use medicare and medicaid and social security to reduce the deficit? >> they want entitlement reform. this would be in exchange for the deficit reduction. >> you realize how harmful this would be. f we are to have [indiscernible] in order to sustain social security for a long period of time, recognizing the demographic shift that is happening. if we are going to strengthen medicare as we did with our bill, use the savings to put back in for more benefits and right here and now for our seniors, then that is what we should do on its own table. it should not be anything related to balancing the budget for the republicans said they can continue to give tax breaks to their special interest friends at the expense of america's seniors and people who are dependent on medicare, medicaid, and social security. nobody cares more about the sustainability of those initiatives than the democrats. intellectual property of the democrats to begin with. they have been sustained by democrats over the years. we need them to be strong, but we need to have that discussion se
>> they want to use medicare and medicaid and social security to reduce the deficit? >> they want entitlement reform. this would be in exchange for the deficit reduction. >> you realize how harmful this would be. f we are to have [indiscernible] in order to sustain social security for a long period of time, recognizing the demographic shift that is happening. if we are going to strengthen medicare as we did with our bill, use the savings to put back in for more benefits and...
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Mar 22, 2013
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aboutrse when we think debt and deficits, there are two kinds of deficit. there are those that invest in human capital or infrastructure or investing in education, and those which do not, which endanger our future by adding to the national debt. and this war deficit was of the second type. amthird point that i passionate about, although it is difficult for many people to be passionate about accounting, but i am passionate about the lack of war accounting. one of the purposes of our book and the several book chapters that we have written since then is to argue that bad accounting matters. the u.s. owes nearly a trillion dollars in what business would call deferred compensation to the men and women who fought the war, but this liability does not appear anywhere on the national balance sheet. we did not account for the value of the 6658 lives lost in iraq and afghanistan. that is just the troops, not civilians, not contractors, except for small amount of life insurance money. even though civilian government agencies estimate the value of life at $7.20 million,
aboutrse when we think debt and deficits, there are two kinds of deficit. there are those that invest in human capital or infrastructure or investing in education, and those which do not, which endanger our future by adding to the national debt. and this war deficit was of the second type. amthird point that i passionate about, although it is difficult for many people to be passionate about accounting, but i am passionate about the lack of war accounting. one of the purposes of our book and the...
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Mar 22, 2013
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it calls for tax revenue to help reduce the deficit. it calls for more spending. we are in the funny process where today, we will wrap up beforehand 50 hours of debate and start the unlimited amendment process. any issue that you have heard complaints about, we might see votes on today. droneld be stuff like strikes against u.s. citizens, it could be taxes and repealing healthcare. the point to remember, this is adding on to a budget resolution. it is interesting and it may give people clues as to what appetites there are in the senate to pass or repeal certain elements of policy. host: the headline says the senate is poised to pass a budget. do you expect it to pass? guest: we do expect it to pass. behink the democrats will able to control the process and get it to pass. they have a small window. you would need vice president biden to come down and break the tie. the significance is, this is the result -- there is a lot of pent up frustration on the republican side. that is why we might see a late night tonight and into the morning. once it is passed, i think a l
it calls for tax revenue to help reduce the deficit. it calls for more spending. we are in the funny process where today, we will wrap up beforehand 50 hours of debate and start the unlimited amendment process. any issue that you have heard complaints about, we might see votes on today. droneld be stuff like strikes against u.s. citizens, it could be taxes and repealing healthcare. the point to remember, this is adding on to a budget resolution. it is interesting and it may give people clues as...
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Mar 20, 2013
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we have a budget out today that a budget that reduces the deficit, creates jobs, ensures global peace and security. t fights a good fight often without a lot of recognition but just doing a good job. not speaking today on behalf congressional black caucus. we have to hold any president ccountable in terms of checks and balances. that is part of the three ranches of government, udiciary, executive and legislati legislative. we have a duty and ensure that y to people have a voice in their guest: let government. what the house of representatives is about. written to president obama and respectfully have sked him to really justify and give us the information about the asis upon which -- legal basis -- the use of drones is engaged in as a result of efforts. we are waiting for the response from them on that. think it is important we ask any president questions as members of congress, it is our responsibility to do that and to personally continue to do that. i think that it president has image changed america's and role in the world and is phenomenal job. but that doesn't mean i won't exerci
we have a budget out today that a budget that reduces the deficit, creates jobs, ensures global peace and security. t fights a good fight often without a lot of recognition but just doing a good job. not speaking today on behalf congressional black caucus. we have to hold any president ccountable in terms of checks and balances. that is part of the three ranches of government, udiciary, executive and legislati legislative. we have a duty and ensure that y to people have a voice in their guest:...
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Mar 23, 2013
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all savings will be put toward reducing the deficit. another amendment submitted by senator durbin. we will take a closer look at that debate later in our program. more on the senate budget resolution tomorrow on "washington journal" with a reporter from politico. you will be able to call in or send in comments via twitter. use the #voterama. we will continue to bring you updates on the c-span network. you can watch this and at work right now on c-span 2. first day night on " ladies" she was called an during her husband's campaign. she dies of a heart attack before andrew jackson can take office. plays hostess at the white house. we will include your questions and comments by phone, facebook, and twitter. live on monday night on c-span, c-span 3. also on c-span radio and c- span.org. >> next is a discussion about reforming congress would former senators and former representatives. this is from the bipartisan new commission on political reform is traveling around the country. from the reagan library, this is about an hour. >> it's good to be here today as is the case with all of you,
all savings will be put toward reducing the deficit. another amendment submitted by senator durbin. we will take a closer look at that debate later in our program. more on the senate budget resolution tomorrow on "washington journal" with a reporter from politico. you will be able to call in or send in comments via twitter. use the #voterama. we will continue to bring you updates on the c-span network. you can watch this and at work right now on c-span 2. first day night on "...
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Mar 22, 2013
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the budgetthing is deficit. i'm calling from manhattan, kansas. we keep borrowing money, spending and spending. what is going to happen when china says we have done enough, your credit limit has been -- host: i think we lost adam. calls.ou for all of your one more look to explain why this is an empty chamber. this is from christie knapp. that is what you are seeing. live continuous coverage of the senate and those votes should get underway shortly. earlier on the senate floor, joe donnelly of indiana spoke in washington about the federal jobs training programs and job skills. >> good morning. i'm bud cramer. welcome you to our event. we're pleased this morning to have three prominent panelists with us, and we will have remarks by the panelists and answers froms and the audience. senators bring together from individuals from washington representing folks from all around the country. we have trade associations, unions, academic experts, and we want to promote good thoughtful discussion across the aisle. we are solutions oriented. we want something t
the budgetthing is deficit. i'm calling from manhattan, kansas. we keep borrowing money, spending and spending. what is going to happen when china says we have done enough, your credit limit has been -- host: i think we lost adam. calls.ou for all of your one more look to explain why this is an empty chamber. this is from christie knapp. that is what you are seeing. live continuous coverage of the senate and those votes should get underway shortly. earlier on the senate floor, joe donnelly of...
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Mar 21, 2013
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and to created big deficits. and then the onslaught of the great recession in 2008 pushed our deficits even higher. and today, today only one-eighth of the revenues lost by the bush tax cuts have been restored. one-eighth. one-eighth. yet many of the republicans keep repeating their mantra that we only have a spending problem, only a spending problem, not a revenue problem. this is demonstrably not the case. now, we go back in time when i was here when president reagan pushed through some tax cuts when he came in as president, but i would say to his credit, he realized they went too far so he reversed course and supported two income tax increases. well, in looking back just 12 years ago, president george w. bush's tax cuts also went too far. again, contributing to the largest deficit in our history. well, you'd think that we would want to reverse course, but republicans have dogmatically refused to reverse course on these -- on increasing revenues. they stick to their ideological man travment they say, don't touc
and to created big deficits. and then the onslaught of the great recession in 2008 pushed our deficits even higher. and today, today only one-eighth of the revenues lost by the bush tax cuts have been restored. one-eighth. one-eighth. yet many of the republicans keep repeating their mantra that we only have a spending problem, only a spending problem, not a revenue problem. this is demonstrably not the case. now, we go back in time when i was here when president reagan pushed through some tax...
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Mar 22, 2013
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-- there was no deficit. we had a surplus. this idea that we hear from the other side that every time you raise taxes, you hurt the economy just defies history. all we are to do is looking at recent history. and especially now at a time when there's such disparity in income, growing disparity in income in our country, and what we're trying to do here is promote growth. and you promote growth by investing in the things that create growth. and we know what they are. we know what they are. they're education. we're going to cut pell grants? my wife when she was 18 months old, her father died. in a car accident. a world war ii vet, decorated world war ii vet. leaving her mom widowed at age 29 with five kids. four girls and a boy. the boy, my brother-in-law neil, went into the coast guard , and he did 20 years in the coast guard, he still works for the coast guard. electrical engineer in the coast guard. he's my -- the second most important man in my son's life. my son was able to get a master's degree in engineeri
-- there was no deficit. we had a surplus. this idea that we hear from the other side that every time you raise taxes, you hurt the economy just defies history. all we are to do is looking at recent history. and especially now at a time when there's such disparity in income, growing disparity in income in our country, and what we're trying to do here is promote growth. and you promote growth by investing in the things that create growth. and we know what they are. we know what they are. they're...
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Mar 25, 2013
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young people took care of that deficit and debt issue years ago if you go back to polling young people. they said that was an important issue a long time ago. >> host: i'm sure that's true, but is it really true that young people are thinking about entitlement reform and long-term tax reform, that kind of thing? >> guest: i think they care about the basic principle behind it. i don't know that people in this generation -- anyone in this country has a detailed plan to address these things, except some people in congress. i think that we understand the principle behind needing to make decisions and not wanting to be stuck with having to pay this bill down the road. i think that's something that this generation has been aware of, because we've been talking about it for a long time. >> host: what -- and not just sort of general rising an entire generation, but what do you think the millenial view is on the current state of the economy? things are not good and not looking good particularly for the future of this generation. they might be optimistic, but they're also wrong in some sense. >>
young people took care of that deficit and debt issue years ago if you go back to polling young people. they said that was an important issue a long time ago. >> host: i'm sure that's true, but is it really true that young people are thinking about entitlement reform and long-term tax reform, that kind of thing? >> guest: i think they care about the basic principle behind it. i don't know that people in this generation -- anyone in this country has a detailed plan to address these...
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Mar 23, 2013
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the amendment would not cost any money nor add a penny to the deficit. it encourages the use of current programs in a more wise and coordinated fashion. the presiding officer: the time of the senator has expired. the senator from alabama. mr. sessions: i think we can accept this by voice vote. i would note to my colleagues that the house has nine reserve funds in it. the senate now has about 50. we've adopted already. we've had reserve funds adopted for education, clean energy, infrastructure, farm payments, food stamps, health care, pensions, housing, tooth dekaeurbgs -- decay, and now homeowners. so these create 50 ways to pass taxes more easily. it turns the budget discipline, if we don't watch it, into mush and makes it difficult to do -- maintain the integrity of the budget act and avoids really in some ways the hard work of setting priorities. i think we should do this by voice vote, but i just want to call my colleagues' attention to the fact that reserve funds too readily used can undermine the integrity of the budget process. the presiding offic
the amendment would not cost any money nor add a penny to the deficit. it encourages the use of current programs in a more wise and coordinated fashion. the presiding officer: the time of the senator has expired. the senator from alabama. mr. sessions: i think we can accept this by voice vote. i would note to my colleagues that the house has nine reserve funds in it. the senate now has about 50. we've adopted already. we've had reserve funds adopted for education, clean energy, infrastructure,...
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Mar 21, 2013
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managing our deficit in a credible way that will get our deficit under control, it builds on the deficit reductions we've already done, we have already done since we started this debate and simpson-bowles recommendations came out. we have already done $2.4 trillion in deficit reduction, $1.8 trillion in spending reductions, $600 billion in revenues. this is very similar to how the simpson-bowles proposal was made. you have a plausible baseline. i'm not going to get too technical about all this. you're not using smoke and mirrors. you're using a realistic baseline in order to do the deficit reduction. it's achievable. it's doable. it's credible. and you deal with tax expenditures. one more point about tax expenditures, senator coons, because you're exactly right. we have provisions in the spending programs of this country that invest in energy security, and that's subject to sequestration because it's an appropriation bill, but we have provisions in the tax code that gives special breaks to the oil and gas industry. these are expenditures. these are revenues that we're hemorrhaging. they
managing our deficit in a credible way that will get our deficit under control, it builds on the deficit reductions we've already done, we have already done since we started this debate and simpson-bowles recommendations came out. we have already done $2.4 trillion in deficit reduction, $1.8 trillion in spending reductions, $600 billion in revenues. this is very similar to how the simpson-bowles proposal was made. you have a plausible baseline. i'm not going to get too technical about all this....
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Mar 19, 2013
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can't we do just 7% for deficit reduction? i thought the deficit was so important. but maybe not when it comes to our friends protecting the interests of the big corporations and the rich. i thank the presiding officer, and i yield the floor. a senator: i suggest the absence of a quorum. the presiding officer: oh, now the clerk will call the roll. quorum call: quorum call: the presiding officer: mr. leader. mr. reid: i would ask unanimous consent that the quorum call be terminated. the presiding officer: without objection. mr. reid: i now ask unanimous consent that at 11:15 a.m. tomorrow, wednesday, march 20, all postcloture tile be expired, the durbin secondary amendment to toomey amendment be withdrawn with no other second-degree amendments the senate will come to order, the senate proceed to vote if relation to the toomey amendment 115, that upon disposition of the toomey amendment, the senate then proceed to vote on the mikulski-shelby substitute amendment, as amended; that upon disposition of the substitute amendment, the senate proceed to the cloture vote on t
can't we do just 7% for deficit reduction? i thought the deficit was so important. but maybe not when it comes to our friends protecting the interests of the big corporations and the rich. i thank the presiding officer, and i yield the floor. a senator: i suggest the absence of a quorum. the presiding officer: oh, now the clerk will call the roll. quorum call: quorum call: the presiding officer: mr. leader. mr. reid: i would ask unanimous consent that the quorum call be terminated. the...
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Mar 22, 2013
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the amendment does not add a dime to the deficit. it provides the quality of women's health care and it defends the conscious rights and religious principles of employers and physicians. i strongly encourage my colleagues to support this important amendment, and i ask for the yeas and nays on my amendment. mrs. murray: madam president? the presiding officer: is there a sufficient second? there appears to be. mrs. murray: madam president? the presiding officer: the yeas and nays are ordered. the senator from washington. mrs. murray: madam president, this amendment would allow any employer and -- or insurance company to refuse to cover any health care services for women based on their own religious beliefs and moral convictions that have nothing to do with the health needs of those denied coverage. the compromise put forward by president obama ensures that religious liberty is respected while ensuring that women can get access to the health care that they need. last year, judge carroll jackson, who was appointed by president george h.w
the amendment does not add a dime to the deficit. it provides the quality of women's health care and it defends the conscious rights and religious principles of employers and physicians. i strongly encourage my colleagues to support this important amendment, and i ask for the yeas and nays on my amendment. mrs. murray: madam president? the presiding officer: is there a sufficient second? there appears to be. mrs. murray: madam president? the presiding officer: the yeas and nays are ordered. the...
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Mar 21, 2013
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when you're dealing with deficit reduction -- i just described how we got into a deficit situation. but when you're dealing with a deficit situation and you say we need to make sacrifices, it is absolutely appropriate and ask who is best able to make those sacrifices? and right now, as i think most americans know, the wealthiest people in this country are doing phenomenally well. large corporations are enjoying record-breaking profits. that's one group of people. meanwhile, the middle class of this country is disappearing, and we have 46 million people living in poverty. so common morality, basic morality says who do you ask most significant throeu help with deficit reduction? do you tell annoyed worker who is trug -- do you tell an unkphroeud -- do you tell an unemployed worker we're going to balance the budget on your back or do you say to a huge profitable corporation that in some cases is paying nothing in taxes, we're going to ask you to help us with deficit reduction? mr. president, it is important for us to do what we do too rarely on the floor of the senate: take a hard look
when you're dealing with deficit reduction -- i just described how we got into a deficit situation. but when you're dealing with a deficit situation and you say we need to make sacrifices, it is absolutely appropriate and ask who is best able to make those sacrifices? and right now, as i think most americans know, the wealthiest people in this country are doing phenomenally well. large corporations are enjoying record-breaking profits. that's one group of people. meanwhile, the middle class of...
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Mar 19, 2013
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people didn't even know we had a national debt or deficit. but then a grassroots movement known as the tea party started to emerge. [cheers and applause] and what made the tea party so effective was not only it came from the grassroots, but it had three core values; fiscal responsibility, constitutionally-limited government and free markets. and because of the tea party, we were able to put patriots like michele bachmann, joe walsh into congress so they can make sure that congress will not continue to spend my generation's money. [applause] we need to save the tea party so that we can save america. [applause] ladies and gentlemen, please welcome jenny martin from the tea party patriots. [cheers and applause] ♪ >> thank you. [cheers and applause] picture this: college students in this country who are optimistic about the future and look forward to living the american dream. after college they pursue their careers and begin to make a living. they become parents and put food on the table for their children, save for their retirement and still
people didn't even know we had a national debt or deficit. but then a grassroots movement known as the tea party started to emerge. [cheers and applause] and what made the tea party so effective was not only it came from the grassroots, but it had three core values; fiscal responsibility, constitutionally-limited government and free markets. and because of the tea party, we were able to put patriots like michele bachmann, joe walsh into congress so they can make sure that congress will not...
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Mar 19, 2013
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reduction a year when last year our deficit was $1.2 trillion. so this budget plan increases taxes, it increases spending over our current rate and it does nothing to change the debt course of america. we need a plan that can balance the budget. we can do that and still increase spending every year. it will balance in ten years if we stay disciplined, but that's not the plan that's on the floor, and our colleagues need to study it and do not need to be voting for a plan that makes no change in our debt course, that does not create quote but simply borrows more. i thank -- i see my colleague, the democratic whip, i will call him, and would appreciate the opportunity to share these remarks and would yield the floor. mr. durbin: mr. president? the presiding officer: the senator from illinois. mr. durbin: i thank my friend from alabama for yielding. i have 13 unanimous consent requests for committees to meet during today's session of the senate. they have the approval of the majority and minority leaders. i ask unanimous consent these requests be ag
reduction a year when last year our deficit was $1.2 trillion. so this budget plan increases taxes, it increases spending over our current rate and it does nothing to change the debt course of america. we need a plan that can balance the budget. we can do that and still increase spending every year. it will balance in ten years if we stay disciplined, but that's not the plan that's on the floor, and our colleagues need to study it and do not need to be voting for a plan that makes no change in...
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Mar 24, 2013
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the best deficit-reduction program is a growing economy and strangely if you see the debate in washington today very little is about economic growth and a lot of it is about what my dad would say, eat your broccoli. it's about the austerity. it's about the toughest things that have to get done. don't get me wrong but they are much easier to get done in the context of high sustained growth where jobs are being created and are of purpose and value for people to be able to pursue their dreams. i have three suggestions i don't think our that partisan. they are not necessarily ideological that if we pause and say we will have the food fight on all the other stuff and there's good things to fight it out, trust me, the we could get to the point that we could have high year sustained growth one would be to create a patriotic policy based on american ingenuity and innovation and north american resources. second, reform the immigration system and move towards something that would be part of the high growth economic strategy true to our heritage, respecting the rules law but moving it to the 21st ce
the best deficit-reduction program is a growing economy and strangely if you see the debate in washington today very little is about economic growth and a lot of it is about what my dad would say, eat your broccoli. it's about the austerity. it's about the toughest things that have to get done. don't get me wrong but they are much easier to get done in the context of high sustained growth where jobs are being created and are of purpose and value for people to be able to pursue their dreams. i...
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Mar 25, 2013
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when we think about debt and deficits, there are two kinds of deficits. those are those that invest in human capital or infrastructure or invest in education and there are those who do not. which endanger our future by adding to the national debt, and this war deficit was the second kind. my third point that i am passionate about, a lot it's difficult for many people to be passionate about accounting. i'm passionate about the lack of war accounting. one of the purposes of our book, and the several book chapters that we have written since then is to argue that bad accounting matters. the u.s. owes nearly a trillion dollars in what business would call deferred compensation to the men and women who fought the war, but this liability doesn't appear anywhere on the national balance sheet. we did not account for the value of the 6,6057 lives lost in afghanistan. that's just the troops, not civilians or contractors. except for a small amount of life insurance money even though civilian government agencies estimate the value of life at $1.7 million. so epa would
when we think about debt and deficits, there are two kinds of deficits. those are those that invest in human capital or infrastructure or invest in education and there are those who do not. which endanger our future by adding to the national debt, and this war deficit was the second kind. my third point that i am passionate about, a lot it's difficult for many people to be passionate about accounting. i'm passionate about the lack of war accounting. one of the purposes of our book, and the...
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Mar 20, 2013
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deficit reduction is a national security imperative that we need to be -- we need to be a lot smarter about how we go about it. is the notice we haven't had a budget since i became chairman of the joint chiefs and for some time before that. sequestration is quite simply the most a response to the way possible to manage the nation's defense. he is the antithesis. when a budget certainty, time and flexibility. sequestration compromises readiness and compounds risk. left unaddressed, it could lead to a security gap, lapse in coverage against the dresser and national security interest. it's also the law i'm hopeful but not all that optimistic that magnitude a mechanism will be defused in some future budget deal. in the meantime we have no choice which is of course our worst-case scenario. so are you feeling afflicted? if you are coming you're in good company. the coverage to continue my insurance metaphor may be a little less than what you're used to, but still the best available and it will get better in time. here's very hope that confidence brings comfort. last week i called our joint
deficit reduction is a national security imperative that we need to be -- we need to be a lot smarter about how we go about it. is the notice we haven't had a budget since i became chairman of the joint chiefs and for some time before that. sequestration is quite simply the most a response to the way possible to manage the nation's defense. he is the antithesis. when a budget certainty, time and flexibility. sequestration compromises readiness and compounds risk. left unaddressed, it could lead...
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Mar 19, 2013
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between management in the interest of increasing productivity to get our debt levels down to have our deficit reduced to 3% by 2015 because of the fact of a program of assistance from from the e.u. and the imf. we are now actually ranked number one in the world for skilled labor. economic recovery in itself is never in and of itself in keeping with the democratic ideas as for what recovery can do for the people in terms of the social impact of the contribution they can make to their localities into their country. political will, culture and social and economic and that recovery and all its potential has come following a very hard piece in ireland. we have some experience of this and to contribute validly too many contributions around the world. in fact the president made the point that since the united nations was founded ireland is the one country, the one country small though it is that can validly point to personnel and peacekeepers and in some location around the world on peacekeeping missions and humanitarian missions since the u.n. was actually founded. you are well aware of the trouble
between management in the interest of increasing productivity to get our debt levels down to have our deficit reduced to 3% by 2015 because of the fact of a program of assistance from from the e.u. and the imf. we are now actually ranked number one in the world for skilled labor. economic recovery in itself is never in and of itself in keeping with the democratic ideas as for what recovery can do for the people in terms of the social impact of the contribution they can make to their localities...
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Mar 22, 2013
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democratic budget plan, and so as you might expect, it calls for some tax revenue to help reduce the deficit, calls for some more stimulus, more spending that way. and we're in this funny process where today we will wrap up, i think a little beforehand technically, but we'll wrap up 50 hours of debate and then start the unlimited amendment process. basically, any issue you've ever heard your callers call in and complain about we might see votes on today. it could be stuff like drone strikes against u.s. citizens, and it could be taxes and repealing health care and all these different issues that may come up. the point to remember, though, is this is all adding on to a nonbinding budget resolution. so it's interesting, and it may give people clues as to what appetites there are in the senate to pass or repeal certain elements of policy. but it's not binding right away. >> host: headline in your publication, "the hill," says the senate is poised to pass a budget. do you expect this to pass, and what's the significance? where does it go from here? >> guest: we do expect it. i think the democrat
democratic budget plan, and so as you might expect, it calls for some tax revenue to help reduce the deficit, calls for some more stimulus, more spending that way. and we're in this funny process where today we will wrap up, i think a little beforehand technically, but we'll wrap up 50 hours of debate and then start the unlimited amendment process. basically, any issue you've ever heard your callers call in and complain about we might see votes on today. it could be stuff like drone strikes...